American Tower Co. (NYSE:AMT) Shares Sold by Twin Focus Capital Partners LLC

Twin Focus Capital Partners LLC cut its holdings in shares of American Tower Co. (NYSE:AMT) by 34.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,395 shares of the real estate investment trust’s stock after selling 725 shares during the period. Twin Focus Capital Partners LLC’s holdings in American Tower were worth $301,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMT. CCM Investment Advisers LLC acquired a new position in shares of American Tower in the fourth quarter worth about $3,607,000. Richardson Financial Services Inc. purchased a new stake in shares of American Tower during the fourth quarter worth about $346,000. Northwest Bank & Trust Co purchased a new stake in shares of American Tower during the fourth quarter worth about $1,178,000. EP Wealth Advisors LLC increased its stake in shares of American Tower by 3.9% during the fourth quarter. EP Wealth Advisors LLC now owns 276,841 shares of the real estate investment trust’s stock worth $59,765,000 after purchasing an additional 10,307 shares in the last quarter. Finally, Syon Capital LLC increased its stake in shares of American Tower by 20.1% during the fourth quarter. Syon Capital LLC now owns 2,065 shares of the real estate investment trust’s stock worth $446,000 after purchasing an additional 345 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

American Tower Stock Up 1.0 %

Shares of AMT traded up $1.85 during midday trading on Friday, reaching $197.03. The stock had a trading volume of 1,933,243 shares, compared to its average volume of 2,297,492. The company has a debt-to-equity ratio of 3.39, a current ratio of 0.85 and a quick ratio of 0.85. The company’s fifty day simple moving average is $185.16 and its two-hundred day simple moving average is $196.01. The company has a market cap of $92.01 billion, a price-to-earnings ratio of 44.58, a PEG ratio of 1.40 and a beta of 0.79. American Tower Co. has a 1-year low of $154.58 and a 1-year high of $219.10.

American Tower (NYSE:AMT) last posted its earnings results on Tuesday, April 30th. The real estate investment trust reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.79 billion. American Tower had a net margin of 18.42% and a return on equity of 18.45%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the business earned $2.54 earnings per share. Equities research analysts expect that American Tower Co. will post 10.03 earnings per share for the current year.

American Tower Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 14th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Friday, June 14th. American Tower’s dividend payout ratio (DPR) is 146.61%.

Insider Activity at American Tower

In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other American Tower news, EVP Sanjay Goel sold 3,504 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $200.36, for a total transaction of $702,061.44. Following the transaction, the executive vice president now directly owns 28,413 shares of the company’s stock, valued at approximately $5,692,828.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert D. Hormats sold 700 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $183.50, for a total transaction of $128,450.00. Following the completion of the sale, the director now owns 7,332 shares of the company’s stock, valued at approximately $1,345,422. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on AMT. Scotiabank cut their target price on shares of American Tower from $243.00 to $223.00 and set a “sector outperform” rating for the company in a research note on Wednesday, May 1st. JPMorgan Chase & Co. cut their target price on shares of American Tower from $236.00 to $230.00 and set an “overweight” rating for the company in a research note on Wednesday, February 28th. BMO Capital Markets cut their target price on shares of American Tower from $228.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Raymond James raised shares of American Tower from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $226.00 to $248.00 in a research note on Wednesday, May 1st. Finally, Morgan Stanley increased their price target on shares of American Tower from $183.00 to $196.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, American Tower presently has a consensus rating of “Moderate Buy” and an average price target of $220.91.

American Tower Company Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.